Business

VN-Index slumps nearly 14 points

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The Vietnam’s stock market extended losing momentum to a fifth trading session on June 6 as bullish sentiment urged investors to dump shares heavily.
Strong selling pressure happened since the beginning of the trading session, flooding the market in red, causing the benchmark to sometime lose nearly 20 points.
After the market plummeted, bottom-catching demand helped the market significantly lessen downward momentum. However, closing the trading session, the VN-Index dropped nearly 14 points as gas and oil stocks continued to plunge. Of which, GAS declined 2.8 percent, PVS nose-dived 5.3 percent and PVD sank 5.1 percent. At the same time, large-cap stocks, including VJC, TCB, PLX, MBB, HSG, CTG and BID also retreated, creating strong pressure on the market.
The VN-Index chopped 13.14 points, or 1.4 percent, the highest decrease since May 6, to close at 946.47 points with 72 stocks increasing, 238 decreasing and 41 remaining unchanged.
The HNX-Index of the smaller bourse in the north went down 1.07 points, or 1.03 percent, to finish at 103.28 points. Among the index members, 47 stocks climbed, 94 fell and 48 stayed the same.
Liquidity on the market was at average level with total trading volume at 222.6 million shares worth nearly VND5 trillion (US$213.8 million). 

By Nhung Nguyen – Translated by Thuy Doan

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